Questions and Answers about
Business
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in BusinessWhich company is about to catch some Angry Birds with a $776 million offer?
Answer: Sega Sammy Holdings Inc, the Japanese gaming giant behind Sonic the Hedgehog, officially announced on April 17, 2023, that it planned to acquire Rovio Entertainment Oyj, the Finnish company behind Angry Birds, for 706 million euros ($776 million) in cash. Sega Sammy said the deal would boost its mobile gaming business. Rovio’s board unanimously…
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in BusinessWhere is Elon Musk building Tesla’s new factory to make Megapacks, the huge batteries that can keep the lights on for thousands of homes?
Answer: Elon Musk announced plans to build an upcoming factory in Shanghai, China, on April 9, 2023. The factory will annually produce 10,000 megapacks – Tesla’s energy storage products that stabilize energy grids and prevent power outages. Building work on the proposed factory is expected to begin later this year. with battery production due to begin…
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in BusinessWho is the CEO of Endeavor Group Holdings, owner of UFC?
Answer: Ari Emanuel is a big-shot Hollywood agent and the co-founder of Endeavor Talent Agency, which merged with William Morris Agency in 2009. He is also the real-life inspiration for Ari Gold, the charismatic agent on HBO’s Entourage. On Apr. 2, 2023, he announced a $21 billion deal to acquire WWE from Vince McMahon and…
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in BusinessAccording to court filings, why did FTX owner Sam Bankman Fried bribe Chinese officials?
Answer: In 2021, Sam Bankman-Fried instructed those working for him to pay a bribe of $40 million to one or more Chinese officials to help unfreeze trading accounts maintained by FTX’s sister company, Alameda Research, that held up to $1 billion in cryptocurrencies. Bankman-Fried was charged with 13 criminal counts, including foreign bribery, on March…
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in BusinessWhat is the largest family-owned bank in the US?
Answer: First Citizens Bank is a family-owned bank founded in 1898 by Frank Holding Sr. and his family. It has become the largest family-owned bank in the US, with over 500 branches in 19 states. On March 26, 2023. the bank purchased all deposits and loans from Silicon Valley Bridge Bank. This was the financial…
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in BusinessSilicon Valley Bank went bust in 2023, becoming the second-largest bank failure in US history. Which bank was the largest?
Answer: Washington Mutual, or WaMu, was a savings and loan association that collapsed in 2008 at the height of the global financial crisis. It had $307 billion in assets and was sold to JPMorgan Chase for a bargain price of $1.9 billion. The bank’s failure was the largest in US history, surpassing the previous record…
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in BusinessWhat did Elon Musk do to regain his wealthiest person status in February 2023?
Answer: Elon Musk boosted Tesla’s stock price with new projects and products, such as opening a factory in Mexico, an Investor Day event, and the long-awaited Tesla Cybertruck and Semi Truck. His net worth reached $187.1 billion on Feb. 28, 2023, surpassing Bernard Arnault’s $185.3 billion. In December 2022. Musk lost his title to Arnault…
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in BusinessWhat is “Catch-and-Kill” in the world of journalism?
Answer: “Catch-and-kill” is a dubious practice some journalists use to keep political figures or celebrities from getting embarrassed. The National Enquirer has been scrutinized for suppressing stories about Donald Trump during his campaign. In one case, the company paid $150,000 for the rights to Karen McDougal’s story about her relationship with Trump but never published…
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in BusinessWhat does AMC Theatres in the US call its revamped pricing scheme?
Answer: AMC Theatres, the largest movie theater chain in the US. introduced on Feb. 6, 2023, a revised pricing scheme called “Sightline” that determines the price of movie tickets based on your seat location. Seats in the middle will be more expensive, while seats in the front row will be cheaper. By the end of…
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in BusinessWhy is the US government halting license approvals for American firms to export to Huawei?
Answer: The Biden administration is tightening Huawei restrictions by halting license approvals for American firms to export to the Chinese tech giant, the Financial Times reported on Jan. 30, 2023. Since 2019, The US government has aimed to stop the Chinese Communist Party from getting sensitive technologies with military applications through its ties with Huawei.
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in BusinessWhy did M&M indefinitely pause its “spokescandies”?
Answer: MM announced on Jan. 23, 2023, that they would take “an indefinite pause” from their “spokescandies” as they felt they were too divisive for a polarized country. Maya Rudolph is the new spokesperson for the brand._x000D_
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in BusinessWhat is the nationality of TikTok’s CEO?
Answer: While TikTok is owned by the Chinese parent company, ByteDance. Shou Zi Chew, the CEO, is a Singapore-based tech finance executive._x000D_
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in BusinessHow is My First Barbie different from the traditional Barbie?
Answer: My First Barbie launched on Jan. 12, 2023, ahead of July’s live-action Barbie movie. Two inches taller than the traditional doll, My First Barbie is $19.99 and comes with four shades of skin and hair textures. It has a bigger waist that de-emphasizes her bust line and flesh-tone modesty undergarments permanently attached. The limbs…
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in BusinessWhich historical world record did Elon Musk break in 2022?
Answer: Guinness World Records said on Jan. 10, 2022, that Elon Musk broke the record for the biggest loss of personal fortune, losing $182 billion since November 2021, according to Forbes, and blowing away the previous record of $58.6 billion set in 2000 by Japanese tech investor Masayoshi Son.
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in BusinessBefore adopting the euro on Jan. 1, 2023, what was Croatia’s currency?
Answer: On January 1, 2023. Croatia joined the eurozone as the 20th member state. Croatia’s previous currency, the kuna, had used the euro (and, before that, the German mark) as its main reference since 1994. The dinar was the currency of Croatia between Dec. 1991 and May 1994.
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in BusinessWhich countries had their debt defaulted (failed to pay their foreign bondholders) in 2022?
Answer: Sri Lanka was the first nation to stop paying its foreign bondholders in May 2022. Russia followed in June due to sanctions the West laid amid the Ukraine war. El Salvador, Ghana, Egypt, Tunisia, and Pakistan are currently considered vulnerable to default but have not yet failed to pay their foreign bondholders.
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in BusinessWhat’s Uber’s “Kill Switch”?
Answer: Senior executives at Uber ordered the use of a “kill switch” to prevent police and regulators from accessing sensitive data during raids on its offices in at least six countries: France, the Netherlands, Belgium, India, Hungary, and Romania. The Guardian found the information on Uber files, a cache of leaked confidential company data published…
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in BusinessThe American Dollar and the European Euro are the two most-traded currencies globally. What is the third?
Answer: The Japanese yen is the third most-traded currency globally. The currency fell against the US dollar to levels last seen in 1998. The Bank of Japan, on June 10, 2022, gave a rare statement that it may intervene if the weakness persists.
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in BusinessHow much does a Tesla Model Y long-range cost?
Answer: Tesla raised prices for all its car models in the United States on June 16, 2022, as the costs of raw materials such as aluminum and lithium surged due to an industry-wide shortage. The Tesla Model “Y long-range” price increased to $65,990 from $62,990. It’s the fourth price increase since Jan. 2022 for some…
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in BusinessWhat’s the world’s largest toymaker?
Answer: Lego is the world’s largest toymaker. The Danish toymaker halted deliveries to Russia in March 2022 after the invasion of Ukraine. On July 12, the company announced it’s ceasing all operations in Russia “indefinitely.”
